Replay Networks to Announce Investors

Replay Networks Inc., maker of an advanced TV recording device, will announce next week that Walt Disney Co., Time Warner Inc. and about seven others will invest more than $50 million in it, people familiar with the situation said. Closely held Replay makes a so-called personal video recorder that allows users to store programs and customize a lineup of their favorite shows. Viewers can rewind and fast-forward through shows while they’re playing and can skip over commercials. Officials for Replay, Disney and Time Warner declined to comment. The investment follows similar ones made recently in Replay rival TiVo Inc. by media companies such as CBS Corp., Comcast Corp. and Liberty Media Group. The media companies want to have a voice in the development of the technology, which some analysts forecast will soon become widespread and cut the viewing of commercials on TV almost in half in just 10 years. In fact, five major media companies Thursday threatened to sue Replay and TiVo to protect their TV copyrights by forcing the device makers to obtain licenses to use network programming. The group, called the Advanced Television Copyright Coalition, includes Disney, News Corp., Time Warner, CBS Corp. and Discovery Communications Inc.